A property assessment is the estimated value of a property. It is used for municipal and education taxation purposes. Experienced and qualified assessors value your property based on provincial assessment legislation and regulations.
Assessment Notices are typically mailed out the first week of March every year. Tax Notices are typically mailed in late May every year.
The market sets the value of your property.
Three methods may be used to estimate market value assessments:
- A comparison and analysis of similar properties that have sold,
- Analysis of the rental income properties generate, and
- The replacement cost on a building plus a value for vacant land.
The City of Grande Prairie attempts to inspect each property every 5 years. Property assessments can only be fair if every estimate of market value is as accurate as possible. Inspections are often necessary to obtain updated building information such as size, additions, layout, finish, quality and condition.
Re-assessments are conducted annually to ensure that recent market fluctuations are reflected in the assessed value of your property. Typically in Grande Prairie your assessment will change annually.
Assessments that were mailed at the end of May reflect the physical condition of the property as of December 31st the previous year.
When a house is partially complete as of December 31, the total assessment value includes the value of the lot, plus a value for the building based on the percentage complete at that time.
If a house is completed or occupied during the current year, you will receive a supplementary assessment notice that reflects the total value of the property less the amount that has already been assessed for the land and partially completed. The supplementary assessment is pro rated to reflect the number of months the house is complete or occupied.
Improvements that increase the market value of a property will generally increase the assessment.
Typical items that may increase the assessed value are:
- Additions to existing structures and/or new structures
- Extensive modernization/renovations
- Finishing a basement
Regular maintenance will help retain the market value of a property, but not necessarily affect the assessment.
Download the Request for Assessment Information Form and view submission details.
Document 299 (Request for Assessment Information) is a required request form when an owner or agent is seeking confidential property information on how the assessor prepared the assessment on that person’s property pursuant to Section 299 of the Municipal Government Act (Note: Only one owner per request is allowed).
Information in respect of a person’s property includes all documents, records, and other information in respect of that property that the assessor has in the assessor’s possession or under the assessor’s control. Also any information on key factors, components and variables of the valuation model applied in preparing the assessment of the property.
To make a proper assessment on a building, it is desirable that an assessor see the inside as well as the outside.
To estimate the market value, an assessor must conduct interior inspections. If the assessor is unable to inspect the interior, the assessment will be based on existing assessment data and similar buildings.
Provincial legislation allows the assessor to enter and inspect any building in the City of Grande Prairie for assessment purposes. Assessors will be able to provide appropriate identification.
If you believe we have made an error on your assessment, please give us the opportunity to review it with you. If you are not satisfied after speaking with an assessor, you may file a written complaint to the Assessment Review Board within 60 days of the date on your assessment notice. Contact Legislative Services for information on filing an assessment appeal.
For additional information on filing an assessment complaint, please contact Alberta Municipal Affairs for details.
Download the Request for Comparable Information Form and view submission details.
Under section 300 of the Municipal Government Act an assessed person may ask the municipality to let the assessed person see or receive a summary of the assessment of any assessed property in the municipality.
Document 300 (Request for Comparable Information) is a required request form when an owner or agent is seeking an assessment summary of any property in the municipality. The summary of an assessment includes information such as:
- A description of the parcel
- Description of the land and any improvements
- Size of parcel of land
- Key factors,components and variables of the valuation model applied in preparing the assessment of a property.
Market value is the most probable price that a property would sell for on the open market as of a given date.
There are many factors that affect the market value of a property:
- Supply and demand for property types or locations
- Community, Location, Neighbourhood
- House Size/Type of Construction
- Lot Size and Condition
- Type of Garage
For example, a location beside a large park may add to value, whereas a location on a traffic corridor may reduce the market value.
Mass appraisal is the process of valuing many properties as of a specific valuation date, using standard methods, employing common data, and allowing for statistical testing.
The use of a mass-appraisal process results in assessments that are accurate in comparison to the market standard and uniform in comparison to similar properties.
